Establishment of Russian VC / Growth Fund with Da Vinci Capital

New Frontier Capital Management Hong Kong and Da Vinci Capital, Russian partner, announced the establishment of a jointly managed fund “Japan Russia New Frontier Fund” at Skolkovo Open Innovations Forum 2019 in Moscow, Russia and the signing ceremony related to term sheets was held. Mr. Oleg Konev, Managing Partner from Da Vinci Capital and Mr. Usuki, CEO of New Frontier Capital Management signed the document.
This fund is a VC/Growth fund which invests in tech-oriented companies in Russia from early to late stage. As for investment themes, it will invest in IT, consumer services, healthcare, health/agri-tech, food tech, etc., which are the growth sectors in Russia. The fund, which invests in Russian technology, will contribute not only to the creation of innovations originating in Russia, but also to the further development of Japanese companies by capturing the innovations originating in Russia.

【Da Vinci Capital Overview】
• Russian major independent GP established in 2007. Currently managing 4 funds. The LP of the fund under management includes prominent institutional investors such as European Bank for Reconstruction and Development, Adams Street and HarborVest.
• Focus on PE investment in Russia, CEE countries and emerging markets. Best PE Team in the year of 2017, and Best Russian & CEE PE Fund in the year of 2016.